Question
Hong Kong Clothiers reported revenue of $5,020,000 for its year ended December 31, 2021. Accounts receivable at December 31, 2020 and 2021, were $321,200 and
Hong Kong Clothiers reported revenue of $5,020,000 for its year ended December 31, 2021. Accounts receivable at December 31, 2020 and 2021, were $321,200 and $353,300, respectively. Using the direct method for reporting cash flows from operating activities, Hong Kong Clothiers would report cash collected from customers of: Multiple Choice $5,052,100. $5,020,000. $5,062,100. $4,987,900
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Financial Accounting
Authors: Jeffrey Waybright, Robert Kemp
1st Edition
013606048X, 9780136060482
